The second annual Inclusion Barometer from executive search firm Bridge Partners finds business leaders show a continued commitment to diversity, equity and inclusion (DEI). Despite a year filled with attacks and criticisms of DEI programs from some well-known business and civic leaders including Bill Ackman, Elon Musk, and Sen. Tom Cotton (R.Ark.), 72% of c-suite and human resources respondents say they plan to increase their commitment to DEI within the next two years, while only 4% plan to cut back or eliminate their programs.
The 2024 Inclusion Barometer polled 400 c-suite and HR decision-makers at companies with at least $25 million in revenue or more than 250 employees. The survey was conducted in April 2024 and is the second such study following the inaugural Barometer from August 2023, which itself was the first statistically significant data set taken from the business community following the U.S. Supreme Court’s decision to eliminate affirmative action in college admissions.
[One advocacy group pushing for equality at businesses is Open to All, whose roster of 200-plus member companies includes numerous retailers, including Athleta, Coach, Dick’s Sporting Goods, Gap, H&M, Petco, REI, Sephora, Victoria’s Secret and Zara.]
“Our data shows not only do business leaders recognize the value of DEI, they are prepared to invest in it,” says Tory Clarke, co-founder and Partner at Bridge Partners. “Beyond the battles and debates on acronyms and nomenclature, DEI has always been about more than just words – it’s an investment in the people, approach, and culture that will drive impact, be that financial or social return, and there is still more work to be done.”
The study also makes clear that there remain key challenges and needs around DEI, particularly at the leadership level. Less than half of respondents (46%) believe their executive team fully reflects the diversity of their employee and customer base, while roughly one in four executives believes DEI programs are one-sided, biased, and potentially a fad that will go away.
Infographic courtesy of Bridge Partners
“Stepping back to see the bigger picture, the numbers show diversity remains elusive at the executive level, so it makes sense that firms plan to continue their investment in DEI as leadership seeks the competitive edge such diversity brings,” says Ryan Whitacre, a Partner at Bridge Partners. “Beyond that, we see the demographic waves produced by the Millennials – who embrace inclusion and are now in management themselves – and Gen Z, which enters the workplace as the most diverse cohort in history, as strengthening the tidal forces propelling DEI rather than supporting those who call for an ebb to such programs in Corporate America.”
Click here for more from the study.